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Seller Leads Versus Leads - Real Estate Leads Redefined for 2018

Seller leads aren't leads

Seller leads, in terms of real estate, mean so much more (we'll explain). You've heard us go over the difference in real estate leads before, but just to clarify for those agents coming into the fold, there are several categories of real estate leads and they are all quite different. Perhaps it's human nature to think of a lead as something hot, happening right here and now at this moment. But speak with any seasoned real estate salesman/woman or REALTORĀ® with years of lead conversion under their belt and they'll almost assuredly tell you... everyone's a lead. Sources for real estate professionals vary, of course, but one common thread connects the "top performers" and that is that those who treat everyone in their farm with the same due diligence and patience reap the highest ROI on the relationships built. Why...?

Seller leads graduate from traditional leads

A seller lead sources from traditional lead conversion methodologies (aka "farming") and this takes time. Contrary to the "rush for qualified leads" mentality, farming is, in its simplest form, about establishing, building and maintaining relationships with your community.... over time. That last part is the key... being there ready to help your client with their real estate needs when they flip from lead to seller lead. Let's break that down... leads become seller leads when the homeowner is ready to list their home (this is understood), but they'll only be "seller leads" to you if you've spent the time to establish a relationship built on trust... and trust takes time.

To really land this point home, it's possible that another agent's leads (people they know and think are going to list with them) could actually be your seller leads (homeowners that ultimately choose to list with you because you've spent the time building the relationship up). This is sort of the don't count your chickens until they've hatched school of thought. You might share leads with any number of agents in your region (they might even have been obtained from another agent or discovered for free). Seller leads, however, are the creme of the crop in real estate. And this brings us to an important point...

Seller leads are an "earned" variant of leads

This is all to say that the primary difference between leads and seller leads (for real estate agents, that is) is time and patience. If you're building your real estate business around homeowner connections, then you're going to need to connect. And no, connection doesn't mean sending them a postcard 6 months ago. ;) If you're doing that sort of homeowner outreach, then yes... you're working with leads (but so too are all the other agents in your territory). If, however, you're connecting on a weekly basis with the hundreds, perhaps thousands) of residents in your farm, then you're truly working with seller leads. Why?

Once you've earned a seller lead, they're yours (unless you drop em)

If you've cultivated them, they're yours. There's a statistic that's quite interesting in this regard... 75% of homeowners will list with the first agent that shows up. So in real estate, when it comes to seller leads, they're your's to lose. Think of it this way... if everyone's a lead and ultimately, if most homeowner leads become seller leads (leads that choose to list with you), then as long as you're the first to show and as long as you maintain the relationship over time, then all of those seller leads are yours (unless you drop the ball and let another real estate agent swoop in and grab their attention). Sounds an awful lot like a relationship, doesn't it? Because it is. It's a relationship business! But you know that. ;) And that's pretty much the takeaway here...

In real estate, you have to treat all leads like seller leads

In this real estate market, it's not enough to obtain lists of homeowner leads and hope that the eventual seller will remember your brand months or years down the road when they decide to list their home for sale. You have to become creative in your outreach efforts and be there for them over time, providing continuous value and insight on the market (when they show they're ready to start accepting it)! Look, to really work your territory, you're going to want a solid source of seller leads. For real estate agents that just don't have enough or for those ready to take on more and grow their business, is your lead generation source. You've got to have them to work them, you've got to work them to keep them. You've got this.

Tags: seller leads, leads, lists, list, real estate, realestate, agent, professional, pro, specialist, lead conversion, real estate seller leads, seller, 2018, 2019, 2020